Deloitte Digital Maturity Survey

Insights for the Belgian Retail Banking Market

Mind the Gap!

The Digital Maturity benchmark was designed to assess Belgian banks' maturity across 8 dimensions through a self-assessment survey and by one to one interviews with bank executives. The results point to one thing: Mind the Gap!

Maturity gap

The research, covering 7 retail banks in Belgium, was carried out in the first half of 2017. It points to a bigger than expected gap between the leading banks in digital maturity and the laggards in the market, corresponding to several years of delay. Just like there’s a gap between digital natives and digital immigrants, there’s a wide digital gap between banks. This is significant, since clients increasingly select their bank based on digital convenience.

Limited internal transformation

Belgian banks have invested in advancing their digital maturity towards clients, but are struggling to transform their internal organisations. Only 1 bank is leading the pack here.

Communicating vases

The research confirms that digital sales is increasing to 30% - 40% of sales for standard products for the leading digital banks. This is a signal that clients are positively responding to the digital propositions, reducing the risks associated with an accelerated branch network restructuring. Now that the digital engine is running, we expect to see bolder moves.

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De Tijd published an article about the Deloitte Digital Maturity Survey on 7 October 2017: "Digitale bankenstorm breekt los"

Read the full article here

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